Global ESIM Market : Industry Size, Share, Analysis, Trend & Future Planning 2023
Bharat Book Bureau Provides the Trending Market Research Report on“Global ESIM Market, Forecast to 2023” underConsumer Goods category. The report provides information on industry overview, market size, latest developments, industry trends,Key Players, global presence, and their future prospects.
ESIM market to exhibit exponential growth between 2018 and 2023
The global eSIM market is estimated to grow from USD 253.8 million in 2018 toUSD 978.3 million by 2023, at aCAGR of 31.0% between 2018 and 2023. The growth of the eSIM market is attributed to the emphasis on remote SIM provisioning for M2M, favorable government regulations boosting M2M communication, and high adoption of IoT technology.
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ESIM market for the smartphone application to grow at the highest CAGR between 2018 and 2023
The rising persistent connectivity on smartphones and growing demand for high-bandwidth applications are driving the adoption of eSIM in smartphones and is anticipated to register exponential growth in the near future. Smartphone vendors are endeavored to bring eSIM into their smartphone offerings to gain a competitive edge in the market. Smartphone manufacturers are entering into collaborations with semiconductor companies to adopt this novel technology. For example, NXP Semiconductors collaborated with Shanghai Unicom (China) and roam2free (China) in June 2017 to develop a secure eSIM solution that makes it easy for consumers to add mobile plans and cellular networks to their smartphones.
Consumer electronics vertical expected to dominate the eSIM market between 2018 and 2023
The consumer electronics vertical remains one of the major forces shaping disruption, innovation, and growth across various technology industries. ESIM is anticipated to be a game changer in consumer electronics applications. It aids in intelligent switching of operator profiles without any hassle to the end user, with no geographical border constraints. The adoption of eSIMs by consumer electronics stakeholders is likely to position them as leading players in connectivity and IoT markets in the forthcoming years.
Asia Pacific to be the fastest-growing eSIM market in the coming years
Asia Pacific is expected to be the fastest-growing region in the eSIM market during the forecast period. Smartphone adoption is rising steadily in APAC; 3 (Australia, Singapore, and South Korea) out of the top 5 countries worldwide are from this region in terms of growing smartphone adoption. In 2016, India overtook the US as the second-largest smartphone market worldwide, after China. Mobile internet penetration in APAC has doubled in the past 5 years. Moreover, mobile operators are investing heavily to offer services at a competitive price. These forces are expected to drive the eSIM market growth in APAC. In addition, the rise in investments across industries such as automotive, power generation, and semiconductor is expected to further boost the market growth in APAC.
Breakdown of the profiles of the primary participants in the report has been given below:
- By Company Type: Tier 1 — 49%, Tier 2 — 47%, and Tier 3 — 4%
- By Designation: C-Level Executives — 38%, Directors — 32%, and Managers — 30%
- By Region: North America — 36%, Europe — 29%, APAC — 23%, and RoW — 12%
Key players operating in the eSIM market include Deutsche Telekom AG (Germany), Gemalto NV (Netherlands), Giesecke & Devrient GmbH (Germany), Infineon Technologies AG (Germany), NTT DOCOMO, INC. (Japan), NXP Semiconductors N.V. (Netherlands), Sierra Wireless, Inc. (Canada), Singapore Telecommunications Limited (Singapore), STMicroelectronics (Switzerland), and Telefónica, S.A. (Spain).
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